Structured Credit Executive
Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description
The Credit Executive (CE) is a client-facing role responsible for developing new custom credit relationships with strategic wealth clients, driving funded loan balance and revenue growth in a responsible and profitable manner, managing a portfolio of existing credit relationships, and educating PCA/PCM on our credit solutions and risk appetite. Within their targeted geographic territory, the CE leads the credit delivery process from beginning to end by partnering with PCA/PCM, Underwriting, Risk, Product Subject Matter Experts, Portfolio Management, and Servicing & Fulfillment. The CE brings thought leadership and credit expertise to structuring highly customized credit solutions to meet the unique needs of our ultra-high-net-worth clients.
The purpose of the CE is to proactively and responsibly deliver best-in-class credit expertise and innovative credit solutions to meet the unique needs of wealth clients. The CE educates PCA and clients on our credit platform capabilities and risk appetite in order to grow loans by increasing PCA engagement and penetration.
Objectives
Responsibilities
• Responsibly grow funded loans and revenue
• Build credibility by developing, deepening, and sustaining relationships with Private Bank Market leadership, Advisors, and clients
• Create a client-centric culture with in-depth knowledge of clients, timely renewals and issue resolution, and competitive deal structuring as the key point of client contact for credit
• Educate key partners and Advisors on platform capabilities and risk appetite to increase engagement and penetration
• Partner and collaborate with Underwriting, Risk, Operations, and Portfolio Management to deliver seamlessly
• Maintain asset quality within the defined GWIM risk appetite limits
• Create and execute on business plans cultivating strong relationships to build rapport, trust, and credibility with business partners and clients
• Business Development –
o Present/participate in meetings at Division, Market, and Office level
o Jointly call on custom lending clients and prospects with PCA client team
o Segment targeted PCA’s; prepare for, schedule and lead 1:1 PCA book reviews for credit opportunities
o Communicate monthly to PCA/PCM’s (success stories, topical information, insights, etc.)
o Review financing requests and opportunities and determine best Enterprise solution to meet client needs
o Timely pipeline / Salesforce management in partnership with LOB
o Effectively deliver tough messages to clients and partners
• Loan Origination / New Business
o Manage expectations through strong communications with clients, client teams and internal partners
o Frontline control for new credit opportunities by pre-screening lending requests and structuring creative loan solutions to meet goals of the clients and the Bank
o Own all aspects of credit request (includes analysis, structure, communication with business partners and client, negotiate, close, and ongoing management)
o Partner with client teams on collection of information from clients in a timely manner – financials, entity documents, other necessary information
o Conduct preliminary analysis and apply sound reasoning to determine viability of opportunities (run ratios, DSC analysis, SBL evaluations, ORR estimates, etc.)
o Engage with Product Specialist Executives (real estate, art, yacht, hedge funds) to assess and collaborate on best structure for loans
o Prepare and Present Deal Screen Memos, Deal Sheets, and Term Sheets
o Provide pricing analysis via Precision Lender
o Real Estate Deals –Provide summary of the property for accurate submission of Property Data Sheet (PDS) for engagement of appraisal bids by UW
o Review FAM spread for accuracy
o Review and approve CAMs for accuracy and to ensure it reflects the deal properly
o Ensure Due Diligence Investigations are ordered by UW for loans in a timely manner and coordinate for responses from clients on discoveries
o Review prepared loan document packages for accuracy ensuring in line with CAM approvals and business deal
o Negotiate terms/documents with clients and attorneys
o Facilitate loan closings with the client teams – closing logistics, original signatures, review and send for booking (in partnership with PCM as applicable)
• Loan Portfolio / Post Closing Needs
o Renewal management including partnering with client teams on collection of required information and working through the approval process with UW in timely manner
o Address failed covenants, past dues, and reporting items in partnership with UW’s
o Work with Underwriting and Risk on any modifications, restructures, etc.
Required Qualifications:
• 10 plus years of commercial credit or wealth management credit experience or a combination of lending and credit experience
• Familiarity with cash flow credit skills and related market influences (profiling, structuring, underwriting, pricing, delivery)
• Prior experience required with a financial institution focusing on sales, preferably in the high net worth space
• Strong verbal and written communication skills
• Strong problem solving skills and the ability to influence others while building strong partnerships
Desired Qualifications:
• Commercial Credit training strongly preferred
Shift:
1st shift (United States of America)
Hours Per Week:
40
Apply Now
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description
The Credit Executive (CE) is a client-facing role responsible for developing new custom credit relationships with strategic wealth clients, driving funded loan balance and revenue growth in a responsible and profitable manner, managing a portfolio of existing credit relationships, and educating PCA/PCM on our credit solutions and risk appetite. Within their targeted geographic territory, the CE leads the credit delivery process from beginning to end by partnering with PCA/PCM, Underwriting, Risk, Product Subject Matter Experts, Portfolio Management, and Servicing & Fulfillment. The CE brings thought leadership and credit expertise to structuring highly customized credit solutions to meet the unique needs of our ultra-high-net-worth clients.
The purpose of the CE is to proactively and responsibly deliver best-in-class credit expertise and innovative credit solutions to meet the unique needs of wealth clients. The CE educates PCA and clients on our credit platform capabilities and risk appetite in order to grow loans by increasing PCA engagement and penetration.
Objectives
Responsibilities
• Responsibly grow funded loans and revenue
• Build credibility by developing, deepening, and sustaining relationships with Private Bank Market leadership, Advisors, and clients
• Create a client-centric culture with in-depth knowledge of clients, timely renewals and issue resolution, and competitive deal structuring as the key point of client contact for credit
• Educate key partners and Advisors on platform capabilities and risk appetite to increase engagement and penetration
• Partner and collaborate with Underwriting, Risk, Operations, and Portfolio Management to deliver seamlessly
• Maintain asset quality within the defined GWIM risk appetite limits
• Create and execute on business plans cultivating strong relationships to build rapport, trust, and credibility with business partners and clients
• Business Development –
o Present/participate in meetings at Division, Market, and Office level
o Jointly call on custom lending clients and prospects with PCA client team
o Segment targeted PCA’s; prepare for, schedule and lead 1:1 PCA book reviews for credit opportunities
o Communicate monthly to PCA/PCM’s (success stories, topical information, insights, etc.)
o Review financing requests and opportunities and determine best Enterprise solution to meet client needs
o Timely pipeline / Salesforce management in partnership with LOB
o Effectively deliver tough messages to clients and partners
• Loan Origination / New Business
o Manage expectations through strong communications with clients, client teams and internal partners
o Frontline control for new credit opportunities by pre-screening lending requests and structuring creative loan solutions to meet goals of the clients and the Bank
o Own all aspects of credit request (includes analysis, structure, communication with business partners and client, negotiate, close, and ongoing management)
o Partner with client teams on collection of information from clients in a timely manner – financials, entity documents, other necessary information
o Conduct preliminary analysis and apply sound reasoning to determine viability of opportunities (run ratios, DSC analysis, SBL evaluations, ORR estimates, etc.)
o Engage with Product Specialist Executives (real estate, art, yacht, hedge funds) to assess and collaborate on best structure for loans
o Prepare and Present Deal Screen Memos, Deal Sheets, and Term Sheets
o Provide pricing analysis via Precision Lender
o Real Estate Deals –Provide summary of the property for accurate submission of Property Data Sheet (PDS) for engagement of appraisal bids by UW
o Review FAM spread for accuracy
o Review and approve CAMs for accuracy and to ensure it reflects the deal properly
o Ensure Due Diligence Investigations are ordered by UW for loans in a timely manner and coordinate for responses from clients on discoveries
o Review prepared loan document packages for accuracy ensuring in line with CAM approvals and business deal
o Negotiate terms/documents with clients and attorneys
o Facilitate loan closings with the client teams – closing logistics, original signatures, review and send for booking (in partnership with PCM as applicable)
• Loan Portfolio / Post Closing Needs
o Renewal management including partnering with client teams on collection of required information and working through the approval process with UW in timely manner
o Address failed covenants, past dues, and reporting items in partnership with UW’s
o Work with Underwriting and Risk on any modifications, restructures, etc.
Required Qualifications:
• 10 plus years of commercial credit or wealth management credit experience or a combination of lending and credit experience
• Familiarity with cash flow credit skills and related market influences (profiling, structuring, underwriting, pricing, delivery)
• Prior experience required with a financial institution focusing on sales, preferably in the high net worth space
• Strong verbal and written communication skills
• Strong problem solving skills and the ability to influence others while building strong partnerships
Desired Qualifications:
• Commercial Credit training strongly preferred
Shift:
1st shift (United States of America)
Hours Per Week:
40
Apply Now